NEWS AND NOTES RELEVANT TO CYBER/DATA SECURITY AND COMPLIANCE

The world of cyber/data security involves a 360 degree process of systems, processes, vendors, employees and clients. Telling clients how the firm will handle cybercrime — and who is liable — after a fraudulent transaction is key. Unlike what happens after most sham credit card charges, counterfeit financial service deals are not refunded automatically. First, it must be determined if the security breach was the fault of the client, the bank or the advisory firm. Only then can the transaction be potentially reimbursed or reversed. MORE